Is VMI card causing PayPal to freeze your account?

Some folks have told me about this VMI card which is a virtual card which you can withdraw your PayPal money with. However, I am doubtful of such services because a friend from my church told me her son’s fund amounting to RM70K disappeared just like that when those virtual cards he used to withdraw PayPal with closed shop and disppeared from cyber space.

Though I am spending quite a bit or rather taking less due to conversion rates, I feel pretty safe getting my money from a friend who has the means to get the money from PayPal transferred to his foreign bank and then, he deposited the amount into my local CIMB savings account. (heh, I am so pathetic with banking, I only manage a savings account)

I had read about Menj‘s experience of PayPal freezing his account temporarily and now, Hotscreensaver too has the same experience. So, I do wonder. Is this VMI card safe? If yes, why does PayPal not recognise it and cause such difficulties to their users? Care to share? I do have a tidy sum from PayPal each month but I like to withdraw them in batches without accumulating too much in my account.

Moral of the story : Find a trusted friend to clear your PayPal for you. Don’t keep too much in there. I cannot stop spending my PayPal so I like to clear them as soon as they are accumulating. If you are a PayPerPost postie like me, hundreds come in each day. LOL.

Post Author: lilian

4 thoughts on “Is VMI card causing PayPal to freeze your account?

    pablopabla

    (April 18, 2007 - 2:25 pm)

    I send my paypal funds to my sister who resides in Singapore. She withdraw it for me :)

    It takes approximately 5 days for the funds to clear between her paypal and her Singapore bank account. And she will bring cash to me when she comes back to KL. Suits me just fine because I don’t get a couple of hundred USD coming in every day.

    But I do share your sceptism with virtual cards. Unless it is some big international bank like Citi, I ain’t trusting my hard earned paypal funds with such virtual banks. Moreover when paypal opps are few to choose from nowadays. Income also dried up liao.

    Neo

    (April 18, 2007 - 2:45 pm)

    Can I order enhancement pills with my paypal? :(

    Wingz

    (April 18, 2007 - 5:54 pm)

    VMI kad is what lei geh?!!!! kakakakakaka

    iReview

    (April 19, 2007 - 3:17 pm)

    I’m waiting for my debit card from E*Trade, that’s another way of taking out Paypal money.. at least they use Bank of New York as intermediary bank for the transaction, rather than some weird name bank in US..

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